Andrew Lovewell, CEO, Columbia Orthopaedic Group
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What insights does Andrew Lovewell share about his background in the ASC space?
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This is Grace Lynn Culler with the Becker's Healthcare Podcast, and we are recording live at the 31st Annual Business and Operations of ASCs. I'm currently joined by Andrew Lovewell, who is the CEO at Columbia Orthopedic Group. So, Andrew, thanks for being here. To kick us off, can you please share a little bit about yourself and your work in the ASC space?
Yeah, my name's Andrew Lovewall. I'm the CEO of Columbia Orthopedic Group. We are a large private practice MSK ortho group in the state of Missouri. Own a very large, super successful ASC, imaging center, pharmacy, DME, real estate investment, PBM, telehealth company, kind of everything we have that can touch the patient and increase our value that we deliver to our patients. So I've been in the healthcare space About 16 years in academics, also ASC management, now the private practice space. So excited for our discussion today.
Wonderful. And let's start off talking about the ASC market. In the U.S., this is projected to reach $60.8 billion by 2030 and continues to experience strong year-over-year growth. So from your perspective, what are the most significant trends and market forces driving this expansion and how should ASC leaders be preparing today?
Yeah, I think that one of the big things that's driving that growth is the migration of cases from the hospital to the ASC space. You know, we see this happening a lot in the ortho and MSK space with spine and total joints. See this happening in the cardiology space as well. I think also one of the big things that's kind of making that transition possible is Is in America, you know, a lot of there's a lot of self-funded health plans, you know, employer sponsored health care. So employers are trying to save cost on what they're providing for their employees. And they've shifted a lot of their demand towards ASC space. You saw that happen with Walmart a few years ago with their Center of Excellence program.
You know, debated on whether or not that was successful based on who they used. You're also seeing that happen with, you know, people picking GI type places that are in the ASC space over hospitals. I would see a lot more employers kind of make that demand on how cases get shifted to the ASC. You're also going to see more employers offer free or reduced cost on their health plan to people who choose that route because it does provide a savings to the employer group when they're providing those benefits to the employees. So overall, it's kind of mixes together to deliver a really perfect storm for ASCs to expand. You know, as an ASC, you've got to be ready for that by October. You know, do you have all the technology in place?
Do you have the staff in place? Is your block schedule optimized where you can kind of produce at that level? So just getting all your ducks in a row, making sure you got the basics in place. You know, even before we start exploring the AI side of things, like let's just get the basics right so we can deliver and, you know, get those cases that are going to move over. So I would give that kind of nugget as like, you know, just check all the boxes, be prepared for, you know, the migration and continued migration of cases coming.
And from AI and robotic surgeries to advanced EHR systems, technology remains both a make or break factor and a critical driver of ASC operations at scale. How do you see a deeper tech integration shaping the way ASCs deliver care and manage their business over the next few years?
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